Bitcoin SV - A not-so-useful version of Bitcoin

Bitcoin SV (BSV)

What is Bitcoin SV?

Bitcoin SV is a fork of Bitcoin (more specifically, a fork of Bitcoin Cash). In 2017, the lack of consensus about an upgrade to Bitcoin resulted in the creation of Bitcoin Cash. A year later, in November 2018, the same thing happened in the Bitcoin Cash network. The two versions (Bitcoin Cash ABC and Bitcoin SV) didn’t reach consensus, and the network split in both variants.

Why does Bitcoin SV have value?

Bitcoin SV claims that neither of its predecessors, Bitcoin or Bitcoin Cash, can serve the purpose Satoshi Nakamoto originally intended for it: being a means of payment for everyday users. Congestion in the network causes high fees and hinders its adoption as a payment option that could substitute VISA and other centralized alternatives.

Bitcoin SV aims to solve this by increasing the block size, hence increasing the throughput of the network. As of now, this feature hasn’t been tested because the blockchain has had a low influx of users.

What are the benefits of Bitcoin SV?

●       Lower fees.

●       Higher transaction throughput.

What are the disadvantages of Bitcoin SV?

●       Poor market performance.

●       Network centralization.

●       Higher barrier for miners.

What are BSV’s tokenomics?

Since Bitcoin SV is a fork of Bitcoin, it shares the same tokenomics. The maximum supply is 21 million BSV, with 18.8 million currently in circulation. New coins are generated each 10 minutes and rewarded to miners through the Proof of Work process.

Who founded Bitcoin SV?

Craig Wright, who claims to be the real Satoshi Nakamoto, founder of Bitcoin.

Who are Bitcoin SV’s investors?

Bitcoin SV has not conducted any sales round. Besides Craig Wright, another supporter and investor of Bitcoin SV is Calvin Ayre, who owns the media platform CoinGeek.

Concise Crypto Grade:

F  :Bitcoin SV should be avoided. It serves no real purpose and is much less beneficial than other crypto payment network options and isn’t a store of value like the original Bitcoin. If you want to use crypto as a payment rail AMP or stablecoins like USDC or UST are better bets. We’d recommend steering clear of Bitcoin SV. 

Where can I buy BSV?

Huobi Global, Gate.io, Bithumb, KuCoin, Bittrex.

What ecosystem does Bitcoin SV run on?

Bitcoin fork